The analysis methods and research content of the article are good directions, and they are also what academic papers look at, but I still stick to my view. I think this tech rally should not have ended yet. Even after deleveraging, there will likely be a pull-up wave for distribution purposes. It might be volatile, but I don't think it will crash with high volatility like before. Maintain a barbell allocation of tech + dividends. In the later stage, if tech stocks fail to make new highs or approach them, you can take some profits.